FTT (FTX Token) rose 15.34% in 24 hours

Gate News Bot news, on October 24, according to CoinMarketCap, as of the time of writing, FTT (FTX Token) is currently priced at $0.89, having risen 15.34% in the last 24 hours, reaching a high of $0.94 and a low of $0.76, with a trading volume of $21.7 million in the last 24 hours. The current market capitalization is approximately $293 million, an increase of $39 million compared to yesterday.

Important news about FTT recently:

1️⃣ Sam Bankman-Fried suddenly returns to social media FTX founder Sam Bankman-Fried suddenly posted “gm” (good morning) on the X platform (formerly Twitter) on October 24, after two years of silence. This move triggered a strong market reaction, with the FTT token price rising 30% in response. SBF's reappearance has sparked speculation among investors regarding the future trajectory of FTX-related assets.

2️⃣ FTX plans to repay $1.6 billion in debt FTX announced plans to repay approximately $1.6 billion in debt, a news that further boosted market confidence. The announcement of the debt repayment plan shows that FTX is actively addressing its financial issues, paving the way for a possible restart. This initiative is seen as a positive signal for the recovery of FTX and its related asset values.

3️⃣ US SEC Chair Hints at Possible FTX Reboot Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), recently stated that he is open to the possibility of FTX restarting. This statement was interpreted by the market as a sign that the regulatory environment may develop in a way that is favorable for FTX to resume operations, subsequently causing the price of FTT token to soar more than 80% in the short term.

The price trend and trading volume of the FTT token have significantly increased, reflecting the market's positive expectations regarding developments related to FTX. However, given the high volatility of the cryptocurrency market and past controversies surrounding FTX, investors should still cautiously assess the associated risks.

This message does not constitute investment advice; investors should be aware of market volatility risks.